You know just how important loyal customers and clients are to the success and longevity of your business. When you lose a customer, it’s not always easy to determine the best course of action. Deciding whether to invest time and energy into regaining a lost client or to put the effort into attracting new ones can be a challenge, especially for new startups. Regaining the trust and business of a lost client isn’t always easy, but it can have a very real impact on the overall health of your business. Before you consider a former client a lost cause, consider the ways in which you may be able to regain their business.
Don’t Lose a Customer Without Knowing Why
There are a number of reasons why business owners may find themselves losing a client, some of which are beyond their control. Before throwing in the towel on an account you think may be lost, make a point of finding out exactly what caused them to end your partnership. You can’t regain a client you’ve lost without addressing the reasons motivating their decision, and it’s important to know when factors within your control have caused you to lose a customer. Actively seeking feedback from the client will not only give you the opportunity to adjust your approach in order to potentially regain their business, but also serves as a valuable learning experience.
Tailor Your Efforts to the Client’s Needs
To regain business after you lose a customer, it’s important to offer a customized solution to the issues which contributed to the loss. If a great client can no longer afford your services at the current rate, consider promotional pricing or bundling services with added value. If a past client has simply fallen out of touch, make a point of reestablishing contact. All too often, service providers lose a customer simply because the client forgot all about them. Life is hectic, but you don’t have to lose a customer through a simple lack of follow up. Remind clients you’ve lost contact with about your
services, and consider offering incentives for a renewed service contract. Develop a pitch tailored to the unique needs of a lost client, and detail all the ways your business is capable of meeting those needs.
Tags: small business